Wholesale Prices Rise by Most in More Than a Year
Wholesale prices in the United States rose 0.6% in April, the largest increase in more than a year, the Labor Department reported.
The producer price index increase followed a 0.5% gain the prior month. The median estimate in a Bloomberg News survey of economists called for an advance of 0.2%.
The advance from the same month a year before was the biggest since March 2012 and followed a 1.4% rise in the year to March.
Wholesale food expenses increased 2.7% in April, the biggest jump since February 2011, led by an 8.4% surge in the cost of meats that was the biggest since 2003. Energy costs increased 0.1% last month after a 1.2% decline in March.
The so-called core measure, which strips out volatile food and fuel, increased 0.5% after rising 0.6% in March. It was projected to rise 0.2%, the survey median showed. It rose 1.9% in the 12 months ended April, the most since December 2012.
